New restaurants expected to create more than 5,000 jobs
LOUISVILLE, Ky.--(BUSINESS WIRE)--
Papa John's International, Inc. (NASDAQ: PZZA) announced today that it
will sign more than 200 North American franchise agreements in 2012.
These franchisees, nearly half of whom represent individuals who are
opening their first Papa John's restaurant, expect to create more than
5,000 new jobs over the next three years.
"We are in the business of opening more restaurants and creating more
jobs that continue to stimulate the economy," said John Schnatter,
Founder, Chairman and Chief Executive Officer. "Nearly 50 percent of the
new agreements signed represent individuals who are opening their first
Papa John's small business franchise. With the average Papa John's
franchisee owning three to five restaurants, we are proud to be doing
our part as a brand to keep the economic engine running for small
Today's announcement comes less than three months after the company
communicated continuation of its industry-leading Papa John's Franchise
Development Incentive Program. The program offers zero franchise fee, 0%
royalty for 18 months and $50,000 in restaurant equipment for new
restaurants opened through 2013. In 2012, restaurant openings under this
program created approximately 3,000 jobs in North America.
Under the company's 2013 Development Incentive Program, franchisees
signing development agreements in the U.S. now through 2013 under this
program can receive:
No franchise fee ($25,000 value);
$50,000 in equipment, including two Middleby-Marshall ovens, which may
be purchased by the franchisee for $50 after operating for three years;
A royalty waiver for up to 18 months; and
A $3,000 food credit with PJ Food Service, which operates Papa John's
fresh dough and food distribution quality control centers, for each
restaurant that opens at least 30 days prior to the scheduled opening
The program is generally available for new U.S. unit development
agreements signed by qualifying franchisees through Nov. 30, 2013, for
new restaurant openings on or before Dec. 29, 2013. The incentives are
subject to the complete rules and eligibility requirements of the
program at the time of signing a development agreement. Full program
details are available upon completion and review of a Franchise
Application accessible at www.papajohns.com.
Headquartered in Louisville, Kentucky, Papa John's International, Inc.
(NASDAQ: PZZA) is the world's third largest pizza company. For 11 of the
past 13 years, consumers have rated Papa John's No. 1 in customer
satisfaction among all national pizza chains in the American Customer
Satisfaction Index (ACSI). Papa John's also earned the 2012 Harris Poll
EquiTrend® Pizza Brand of the Year. Papa John's is the Official Pizza
Sponsor of the National Football League and Super Bowl XLVII. For more
information about the company or to order pizza online, visit Papa
John's at www.papajohns.com.
Papa John's International, Inc.
Darryl Carr, 502-261-4318
Source: Papa John's International, Inc.
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